Latest news with #SecuritiesandExchangeCommission
Associated Press
a day ago
- Business
- Associated Press
Wetouch Announces Receipt of Nasdaq Notification of Non-Compliance Regarding Delayed Form 10-Q Filing for the Period Ended March 31, 2025
CHENGDU, CHINA / ACCESS Newswire / May 30, 2025 / Wetouch Technology Inc. (Nasdaq:WETH) ('Wetouch' or the 'Company') today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ('Nasdaq'), dated May 27, 2025, indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). This rule requires timely filing of periodic reports with the U.S. Securities and Exchange Commission (the 'SEC'). The notification was issued because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025 (the 'Form 10-Q') and the Company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the 'Form 10-K'). This delay triggered the non-compliance notice under the continued listing requirements. In accordance with Nasdaq's procedures, the Company has until June 20, 2025, to submit to Nasdaq a plan to regain compliance. If Nasdaq accepts the plan, Wetouch may be granted up to 180 calendar days from the original due date of the Form 10-K, or until October 13, 2025, to file the Form 10-K and Form 10-Q and thereby regain compliance. The Company intends to file the Form 10-K and Form 10-Q as soon as practicable thereafter, and expects to regain compliance within the allowed timeframe. There is no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market as a result of this notification. About WeTouch Technology Inc.: Wetouch Technology Inc. is a leading provider of high-quality touch display solutions, committed to revolutionizing human-machine interaction across various industries. With a focus on innovation and customer satisfaction, Wetouch delivers cutting-edge technology and unmatched performance in touch display solutions worldwide. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will', 'expects', 'anticipates', 'future', 'intends', 'plans', 'believes', 'estimates', 'target', 'going forward', 'outlook,' 'objective' and similar terms. These forward-looking statements include, but are not limited to, the expected filing of its Form 10-K and Form 10-Q and ability to regain compliance under the Nasdaq listing rule. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond Wetouch's control, which may cause Wetouch's actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to Wetouch as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. For example, there can be no assurance that the Company will regain compliance with the Nasdaq listing rule during any compliance period or in the future, or otherwise meet Nasdaq compliance standards. Further information regarding these and other risks, uncertainties or factors is included in Wetouch's filings with the U.S. Securities and Exchange Commission, which are available at Wetouch does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. For more information, please contact: Horizon Research Management Consultancy Michael Wei, Email:[email protected] SOURCE: Wetouch Technology Inc. press release
The Hill
a day ago
- Business
- The Hill
SEC dismisses case against crypto exchange Binance
The Securities and Exchange Commission (SEC) is dropping its case against crypto exchange Binance, as the agency continues to pull back on enforcement against the digital asset industry under President Trump. The SEC asked a judge Thursday to dismiss the case, which accused the company and its founder, Changpeng Zhao, of operating an unregistered exchange, artificially inflating its trading volume and misleading investors about its surveillance and controls. 'In the exercise of its discretion and as a policy matter, the Commission believes the dismissal of this Litigation is appropriate,' the agency wrote in a filing. Binance has had a checkered history with U.S. regulators. Zhao spent four months in prison last year for violating anti-money laundering laws, and his company paid $4 billion to settle a case with the Department of Justice (DOJ) in 2023. The exchange has found itself in the news once again in recent weeks, after a Trump family crypto venture announced that its new stablecoin would be used to complete a $2 billion transaction between an Emirati firm and Binance. Binance and the SEC initially asked the court to put the proceedings on hold in February, shortly after Trump took office and Republican commissioner Mark Uyeda took the reins of the agency as acting chair. Under Uyeda's leadership, the SEC quickly shifted its approach to the crypto industry, launching a crypto task force, reexamining Biden-era rules and dismissing cases against crypto firms, such as Coinbase, Kraken, Consensys and Ripple. He returned to his commissioner role in April once Trump's pick to lead the agency, Paul Atkins, was sworn in. The Binance case was one of the final remaining Biden-era crypto lawsuits. The company touted the decision to dismiss the case as a 'landmark moment.' 'We're deeply grateful to Chairman Paul Atkins and the Trump administration for recognizing that innovation can't thrive under regulation by enforcement,' a spokesperson said in a statement. 'The U.S. is back – leading from the front in the future of blockchain.'
Yahoo
a day ago
- Business
- Yahoo
The SEC drops its lawsuit against Binance, bringing crypto enforcement close to an end
The Trump administration abandoned a lawsuit against crypto giant Binance and its founder Changpeng Zhao, signaling a friendlier approach to the cryptocurrency sector compared to its predecessor. In a four-page court filing on Thursday, the Securities and Exchange Commission said it believed it was 'appropriate' to dismiss the lawsuit 'in the exercise of its discretion and as a policy matter.' In mid-2023, the Biden administration filed a lawsuit against Binance accusing it of mishandling customer funds and misleading U.S. regulators. It was part of an extensive crackdown on digital assets under Biden that sought to penalize the volatile, scam-ridden industry and rein in its excesses. But the crypto industry is no longer being treated as a financial outcast with President Donald Trump welcoming the deep-pocketed sector with open arms. He once assailed digital assets but reversed course and proclaimed himself to be the 'crypto president.' Vice President J.D. Vance headlined a Bitcoin conference in Las Vegas this Wednesday and promoted the administration's close relationships in the crypto sector. 'There's a new sheriff in town… With President Trump, crypto finally has a champion and an ally in the White House.' Trump held a dinner for memecoin investors on May 22 to encourage sales of his $TRUMP cryptocurrency. The controversial event sparked protests and criticism about profiting off of the presidency. The White House has rejected those attacks and said Trump's assets are in a blind trust managed by his sons. 'There is a lot of sense in crypto. A lot of common sense in crypto,' Trump said in brief remarks at the dinner, per The New York Times. 'And we're honored to be working on helping everybody here.' The price of Bitcoin hit a record high this month, but the peak was brief and fell again. For the latest news, Facebook, Twitter and Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
a day ago
- Business
SEC drops lawsuit against world's largest crypto exchange
The dismissal by the Securities and Exchange Commission comes days after Binance began listing USD1, a cryptocurrency launched by a crypto firm started by President Donald Trump's family.
New Straits Times
a day ago
- Business
- New Straits Times
Capital A's Q1 net profit at RM689.6mil, reverses loss a year ago
KUALA LUMPUR: Capital A Bhd reported a net profit of RM689.6 million for the first quarter ended March 31, 2025, reversing a net loss of RM91.5 million in the same period last year. The turnaround was driven by growth across multiple segments, including travel, logistics, maintenance, repair and operations (MRO) services, and other travel-related businesses. Capital A's revenue rose 15.2 per cent to RM414.5 million from RM359.8 million a year ago, supported by broad-based improvements in both logistics and digital segments, as well as the group's ongoing diversification and expansion into non-airline ventures. No dividend has been proposed during the quarter. Capital A said it is nearing completion of a RM1 billion private placement. However, the process is pending consent from two remaining aircraft lessors and approval from Thailand's Securities and Exchange Commission, which has faced some delays. "As a result, the overall timeline is expected to shift, with completion now targeted by the third quarter of 2025," it added. Sharing its outlook on aviation, the group expressed confidence in sustained travel demand across major Asean markets for the rest of the year, supported by the summer peak period, May-June school holidays, and upcoming festive seasons. With jet fuel prices projected to stay favourable in the near term, Capital A plans to increase capacity to cater to the strong demand, offering competitive fares to grow market share while ensuring high load factors. "In Malaysia and Thailand, domestic resilience is being strengthened through revised pricing strategies and proactive capacity management. Improved performance is also expected in Indonesia, the Philippines and Cambodia. "This is underpinned by ongoing network optimisation and a more strategic balance of domestic and international routes, maximising aircraft utilisation and operational efficiency," it said.
